AMA Marketing Effectiveness Online Seminar Series Becky Bjelopetrovich

1. AMA Marketing Effectiveness Online Seminar Series Becky Bjelopetrovich American Marketing Association

2. A wealth of information is available for marketing professionals at www.MarketingPower.com The #1 marketing site on the web

3. Commonly Asked Questions 1. How do I submit questions? 2. Will I be able to get copies of the slides after the event? 3.Is this web seminar being taped so I or others can view it after the fact?

4. Commonly Asked Questions 1. How do I submit questions? 2. Will I be able to get copies of the slides after the event? 3.Is this web seminar being taped so I or others can view it after the fact? Yes Yes Yes

5. CMM Thought Leaders www.marketingpower.com/cmm Founding sponsors: Associate sponsors:

6. Introducing Today’s Speakers Tim Riesterer President CMM Forum Barry Trailer Co-Founder CSO Insights John Orvos Founder Sell Masters

7. Feel the Rhythm Getting Marketing and Sales in step with the customer buying cycle

8. AMA’s CMM Portal www.marketingpower.com/cmm

9. Today’s speakers Tim Riesterer Co-founder CMM Group Barry Trailer Co-Founder CSO Insights John Orvos Founder Sell Masters

10. Message Maps and Gaps • 100 CMOs/Marketing Executives surveyed • 70% - view sales messaging as a strategic source of differentiation • 25% - satisfied with sales’ ability to deliver #1 Concern: Decreased sales performance in the area of value and solution selling

11. Executive Summary • Sales messaging is a priority for CMO’s – but a largely untapped opportunity to date • Relatively few of the companies who responded to our survey felt that they ‘got it right’ • There are several emerging ‘best practices’ • Those companies who built a strong messaging platform and process reaped compelling financial benefits

12. Best Practice #1 • Invest in the development of messaging appropriate to value and solution selling • Customer problem-centric, not company product centric • Most companies do not have customer and/or market-focused selling ‘playbooks’ • Requires re-orientation and investment

13. Best Practice #2 • Work in partnership with the sales team to define messaging platforms – early in the content development cycle – and align with the sales process • Nearly 50% of our respondents had sales teams ‘involved or very involved’ in message development

14. Best Practices #3 • Provide sales teams a single web-based means to access important messaging information • Centralize the many disparate product and geographic sources of product information • Provide thoughtful taxonomy and search tools to provide quick access to relevant information

15. Best Practice #4 • To enhance sales effectiveness, provide tools to help the sales team to customize messaging and collateral material to the particular opportunity • Up to 40% of a typical sales reps time is spent in pre and post sales preparation and follow-up • Eliminates ‘rogue marketing’

16. Best Practices #5 • Routinely and aggressively audit the usage and satisfaction of the sales team with the collateral, sales tools, and messaging platforms developed by marketing • Only 25% of companies report doing this well today

17. The Payoff • Do companies who have successfully developed customer-focused solution messaging programs outperform the market? • Do sales teams who are confident in the messaging outperform the competition? CSO Insights looked at 1,300 companies to determine the impact of world-class messaging on key sales effectiveness metrics

18. Can Sales and Marketing Dance without stepping on each other’s toes? Barry Trailer, CSO Insights www.csoinsights.com

19. 11th Annual Sales Effectiveness Benchmark Study Surveyed 1,000+ Companies Worldwide • 50% US Organizations, 50% International • Small, Medium, Large Firms • Analyzed Performance Across 100+ Metrics • Assessed Role People, Process, Technology, and Knowledge were Playing in Their Effectiveness Plans.

20. Percentage of Reps Meeting/Exceeding Plan The “Good News” But are we working Smarter or just Harder?

21. Percentage of: - Length of Average Sales Cycle- Number of Calls to Close- Win Rates- New Rep Ramp Up Times The “bad news”… Remained essentially unchanged.

22. Ability to: -Generate Accurate Bid/Configuration-Create a Complete Business Case-Up-Sell & Cross-Sell In addition… Remained unchanged or declined.

25. Sales Effectiveness Components People Knowledge Process Technology

26. “It’s OK if Marketing doesn’t’ provide Sales with proper messaging—sales reps will just make up their own.”

27. Ability to Effectively Introduce New Products 50.0% 45.0% 40.0% 35.0% 30.0% All Responses 25.0% World-class CMM 20.0% 15.0% 10.0% 5.0% 0.0% Dismal Poor Average Very Good World Class

28. Ability to Sell Value/Avoid Excessive Discounting 45.0% 40.0% 35.0% 30.0% 25.0% All Responses 20.0% World-class CMM 15.0% 10.0% 5.0% 0.0% Dismal Poor Average Very Good World Class

29. Percentage of Presentations Resulting in a Sale 40.0% 35.0% 30.0% 25.0% All Responses 20.0% World-class CMM 15.0% 10.0% 5.0% 0.0% <10% 10 - 25% 26 - 50% >50%

30. Percentage of Proposals Resulting in a Sale 45.0% 40.0% 35.0% 30.0% 25.0% All Responses 20.0% World-class CMM 15.0% 10.0% 5.0% 0.0% <20% 20 - 50% 51 - 75% >75%

32. Marketing’s Moments of Truth John Orvos, Sell Masters www.sell-masters.com

33. Agenda • Marketing’s “Moments of Truth” – Buyer-Centric Model • What’s the problem for today’s sales force? • What do Sales people need from Marketing? • A sales point of view • Getting started

34. So, what’s the big problem facing your sales force? Buyer Seller

35. …It’s aligning with tougher Buyer thinking “I need to spend more time with those who can bring me the most value and less time with those who cannot.” “I have a limited budget so I need to get the most value for every dollar.” “It’s not my job to educate the sales person.” “I like to buy. BUT I hate being sold.” “I need someone who really understands my business and who is in it for the long term.”

36. So, what is today’s Seller thinking? “Our space is becoming more competitive all the time. How do I differentiate my company?” “The prospect is making me run around in circles. When will they just make a decision?” “It’s getting harder and harder to justify our price. How do I communicate the value?” “I need to do a better job accessing and influencing senior level key decision makers.” “I thought they were ready to buy. Now it’s just stalled.”

37. Where is Buyer-Seller misalignmentoccurring? “I KNOW their INDUSTRY, BUSINESS & other NEEDS” “We are the best solution/fit” “We will make CERTAIN they’re SUCCESSFUL” “I’ll show them what we’ve done for customer X” “They DO need to take action. Here’s a reason why” “We need to get a meeting with the CXO” “Do I need to take action now?” “Which Solution do I choose?” “I may have an issue to solve” “How do I sell this internally?” “Is it worth my while to meet with a sales person?” “Do they really understand my needs?” “What if I make the wrong decision?” Buying Mindset Selling Process

38. Misalignment at “Moments of Truth” Pivotal points when things either get bogged down…or advance a sales opportunity”

39. Buying Mindset CONSIDER REALIZE BUY SEEK Selling Process Discovery, Validation & Fit Target/Research Negotiation & Close Gain Access Getting in alignment at Moments of Truth

40. How can Marketing help sales at the Moments of Truth? With sales and marketing both trying to do the same thing… …What is the Sales person’s point of view to this question? Provide on the “distilled points of intelligence” Aggregate information and tell them everything you know Result: Moves tribal knowledge into a meaningful strategic corporate asset that sales people can USE OR

41. The answer: Aggregate = “Aggravate” Sales people are binary: Will this activity make $ or not? Oceans of information • Mass information are useless • Aggregating makes this even more useless Transform from Aggregating into Distilling • Distilling it and organizing to be used during specific moments of truth

42. Put an “S” on your chest Provide marketing muscle during a sales person’s moments of truth Only marketing has the discipline to organize this: • You’re a “thought” leader = power • Power only buys from power • Sales people will NEED you…if you can do this • They will not need you if you aggregate data which goes unread

43. Getting Started How to transform marketing messaging & information into a distilled strategic corporate intelligence asset for sales forces to use during their moments of truth?

44. How do I know where to distill intelligence Think like a “Sleuth” & interview your sales force Detective Peter Falk a.k.a “Columbo” • Detective work to interview your sales force • Gets right out into the field • Willing to go extra mile for information • Returns to sources for updated intelligence & changes

45. Distilled Intelligence Asset #1 Discovery, Validation & Fit Target/Research Negotiation & Close Gain Access Target Buyer Challenges, Drivers and Questions Who are the buying executives (titles) that we target? How are they measured for success? Why are they fired? What are the top 3 challenges that each executive is facing currently? • For each challenge, what questions can your sales person ask “other people around this targeted executive” to find out if this challenge is important to this executive? • For each challenge, what are the best opening impact statement that a sales person can make “to that target executive” to get them interested in meeting with us?

46. Distilled Intelligence Asset #2 Discovery, Validation & Fit Target/Research Negotiation & Close Gain Access What’s Their Key Decision Criteria Who are the buying executives (titles) involved in a decision? What are the 3 most important criteria for this executive to buy any solution? Finish the sentence for this executive (title): “The vendor we select to partner with must have the following…” What are questions a sales person can ask this executive about these “criteria”: • That will answer “why” they value these criteria? • To determine if they are motivated to buy any solution at all?

47. Distilled Intelligence Asset #3 Discovery, Validation & Fit Target/Research Negotiation & Close Gain Access Objections What is a typical objection we hear? What is our best response to that?

48. Distilled Intelligence Asset #4 Discovery, Validation & Fit Target/Research Negotiation & Close Gain Access Company Strengths and Weaknesses What are the three most important Strengths of our company? • What makes the company strong and what are the difficulties we face when selling? What is our key market differentiator in this context?

49. Distilled Intelligence Asset #5 Discovery, Validation & Fit Target/Research Negotiation & Close Gain Access Competitive Strengths and Weaknesses List competitors What are our S&W vs. each competitor? What are their selling tactics? What landmines do they lay when they compete with us? What preemptive strikes can we do to neutralize these?

50. Thank you For more information, please contact: John Orvos www.sell-masters.com 1-609-430-8357 jorvos@sell-masters.com Need a tool to bring this together? Ask about Maestro